This is incredible and so helpful. Thank you so much, Paul! I think to make things easy I am going to start this in January of 2023. I'll then keep track of what I am spending on the game.

[quote="Ice Cream Jonsey" post_id=132257 time=1668003349 user_id=3]
Before I ship Cyberganked, I probably gotta make an actual company.

Tdarcos, do you know what the first steps for doing so are?
[/quote]
You're in Colorado, what I consider one of the best states (and possibly the cheapest) to incorporate/charter an LLC. I had a corporation and have an LLC chartered there.

The fee is $50, for a corporation or LLC, you can do everything on-line with the Secretary of State's website: https://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do, you have to search to see if the name you want to use is available. They accept credit cards for on-line payments. Here are somew rules:
* Don't use your name in the corporation or LLC name. You are not the business and the business is not you. It should be treated as a separate person from you. Don't make it easy for others to realize it's your company.
* A corporation must have "corporation", "corp.","incoproated" or "inc." in its name. You can't have any of the items in the next bullet point in its name.
* An LLC must have "Limited Liability Company," "LLC" or "L.L.C." in its name. You cannot have any of the items in the previous bullet point in its name.
* You have two choices, Corporation or LLC. If you are going to be the sole owner, an LLC is much simpler as for tax purposes it is treated as a "disregarded entity." Losses by the LLC are imputed to you and you can claim them on Schedule C of your federal tax return. Any income it has is treated as belonging to you. The LLC/corporation is a separate entity from you, should have its own Employer ID/ITIN, but does not file a tax return (unless you choose to have it taxed as one, which you don't want).
* Don't bother with an S corporation; LLCs provide all the tax benefits, have fewer formalities and have no special requirements
* If you use a corporation, Colorado corporations do not file a state income tax form if they have no income in Colorado.
* If you use a corporation you have to file federal income tax forms even if its income is 0. If it has in-state income you also have to file a separate Colorado Corporate Income Tax form.
* If you use an LLC, you'll be asked to choose if it should be "member managed" or "manager managedl" You'll want to choose member unless you're hiring people to manage it.
* Whichever entity you use, keep the records separate. Don't put your money in the entity's bank accounts or pay your bills with its money. Mixing business entity finances with personal ones is the surest way for someone suing the entity to "pierce the corporate veil," treating the corporation or LLC as an "alter ego" of you, making you liable for its debts.
*After the first year you have to file an annual report with the Colorado Secretary of State (which you must do on-line) and pay the nominal renewal (annual report) fee of $10.
* Once you register it, as soon as the website reports they took your payment, the entity now exists. The information filed is a public record that anyone can look up.
* You will probnably want an EIN/ITIN if you get an LLC and [u]must[/u] have one for a corporation. You get one from the IRS online at https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

There's more details but this will get you started.

Harvard Business Services. Register a LLC in Delaware b/c corporate tax is fixed to like $350 a year. Seriously, Delaware doesn't even ask about revenue.

I've been wondering about that myself. However, it looks like since I have 0 employees (I've only purchased the rights to use assets such as a few models and music) that just shipping it as an individual is all I can do.

D'oh!

You talking about getting an LLC?

Go to Deutsche Bank and get a $50 million loan. Then $100 million. Then $200 million. Then sue them for lending you too much money so you won't have to pay it back. After that you can also run for president, but that's optional.

Before I ship Cyberganked, I probably gotta make an actual company.

Tdarcos, do you know what the first steps for doing so are?